- The world may be trying to unplug the Russians from the global financial system, but there will be unintended consequences, the bulk of which we have yet to see.
- Oil could take out its 2008 high of $150 per barrel, and there are spillovers in other commodities - not just nickel - due to supply disruptions that are getting worse with the new sanctions.
- That means the inflation picture, which was supposed to get better over the summer with a normalizing global economy after COVID, is actually likely to deteriorate the longer the fighting persists.
For further details see:
Nickel's Monstrous Short Squeeze